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Gold prices increases as US Fed’s dovish policy remain

Princess Tarfa

Gold prices continued to rise on Thursday although the dollar fell after the US Federal Reserve agreed to support interest rates down.

By 05:38 GMT, spot gold must have been growing upto 0.2 percent to $1,784.26 per ounce, while US gold futures seemed to be up by 0.6 percent to $1,784.40 per ounce.

According to Jeffrey Halley, senior market analyst at OANDA, "Even at the most recent FOMC call, the Fed stuck to its dovish statement. With the whole risk eliminated, buyers headed back into the global recovery trade, starting to led the dollar drop while US bond yields remained largely unchanged."

And according to the Fed, several individuals are indeed unemployed till now, so it would be premature to withdraw humanitarian assistance.

During his first message to Congress, US President Joe Biden announced a $1.8 trillion package proposal for families and education, which benefited the gold. Gold acts as a protective barrier against inflation, allowing it to prosper from the common stimulus.

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